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Key Points
- Significant Discovery at Ace of Spades: Kincora Copper has confirmed a "regionally significant" high-priority porphyry target at its Nyngan Project’s Ace of Spades section.
- Cutting-Edge Geophysical Surveys: Geophysical surveys conducted with Fleet Space Technologies, using ambient noise tomography (ANT) and gravity data, provided refined insights into this large-scale target, leading to new drilling plans.
- Collaborative Drilling Program: A copper-gold focused drilling program is now underway, supported by AngloGold Ashanti, which is set to drill 6-8 holes to test the porphyry potential of this promising new district-scale discovery.
Kincora Copper (ASX:KCC) has confirmed a significant new high-priority porphyry target at its Nyngan Project in New South Wales, marking a major step forward in its exploration efforts. The target is located within the ‘Ace of Spades’ section of the project, which sits in the Northern Junee-Narromine Belt of the Macquarie Arc, a region known for its rich mineral deposits.
The identification of this target follows the completion of advanced geophysical surveys, which included ambient noise tomography (ANT) and gravity surveys conducted by Fleet Space Technologies. Fleet Space, which has recently strengthened its partnership with Kincora by becoming a strategic investor, played a crucial role in the survey process. These surveys have revealed compelling results, confirming and refining an existing high-priority drill target that will soon be tested.
Kincora’s CEO, Sam Spring, expressed excitement over the discovery, describing the Ace of Spades as a “very compelling new district-scale opportunity,” potentially the largest volcano-intrusive complex within the Macquarie Arc. Remarkably, the site has never been drilled, adding to its allure as a potentially significant discovery.
According to Spring, the recent geophysical surveys are unique in their approach, representing the first-ever integration of gravity with a real-time ANT survey conducted by Fleet Space. The initial results are promising, providing a detailed and refined geophysical model that aligns with existing regional geophysics. This has resulted in the confirmation of a high-priority, large-scale target, which is set to be drilled in the Ace of Spades area.
The ANT survey covered a 35km² region, with a more detailed ground gravity survey conducted over a 9km² area. The ANT velocity model provided a depth profile reaching 2,500m, with the infill survey reaching 1,000m, offering high-resolution data on the region's structures. These surveys identified multiple deep-seated structures that support the potential for multiple volcanic and intrusive complexes, and also uncovered several new areas of interest.
In light of these findings, Kincora has made some adjustments to its drilling strategy. The collar of the originally proposed drill hole has been shifted approximately 400 meters, reflecting the refined data from the surveys. The copper-gold focused drilling program, which is already underway, aims to test the district-scale porphyry potential of the northern portion of the Nyngan Project. The program will consist of six to eight drill holes, covering an estimated 4,000 to 5,000 meters, with completion expected before the year’s end.
This exploration effort is being carried out in partnership with AngloGold Ashanti, which has the option to earn up to an 80% stake in Kincora’s Nyngan and Nevertire licences by investing up to $50 million.
The primary focus of the drilling program is the Ace of Spades area, which is one of 16 targets that have been permitted for drilling. The broader goal for Kincora and AngloGold is to uncover a significant copper-gold deposit akin to Cadia, a world-class operation with a footprint of 5.7km and seven major deposits.
As the program progresses, the results from this ambitious drilling effort are expected to further refine Kincora’s exploration strategy and uncover additional high-potential targets within the Nyngan Project.
